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through similar problems. risk premiums for spain rose until the end of july, so european finance ministers agreed on a new mode of attack -- on july 20, they announced a 100 billion euro bailout to calm spain's blazing financial sector. over the summer, a new idea developed to prevent such disasters in future -- to set up a common bank supervisor in frankfurt. the plan was endorsed just before christmas. >> no one knows what shape it will take, but there's a promise our financial system will become more stable, which is keeping the markets stable today. >> in september, the european central bank director, mario draghi, announced plans to cut the borrowing costs of debt- burdened eurozone countries by buying the bonds. the financial markets were appeased. >> the financial markets' biggest headache was that the eurozone would collapse, and the only one who could prevent this was mario draghi. >> europe's politicians seemed quite satisfied at the end of the year. >> we have a long-term vision for our union. >> the euro is an important measure of this vision. it is still around, and
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